In FY23, BSNL loss widens to Rs 8,161 crore due to AGR dues: Report
By MYBRANDBOOK
In FY23, loss for Bharat Sanchar Nigam Ltd. (BSNL) has widened to Rs 8,161 crore in FY23, compared to Rs 6,982 crore and the increase in consolidated loss is due to the provision for adjusted gross revenue (AGR) dues to the government.
In FY23, the state-run company made a provision of AGR dues worth Rs 17,688 crore, and received the viability gap funding of Rs 16,189 crore. Due to this adjustment, BSNL recorded a loss of Rs 1,499 crore, which increased its total net losses.
The total expense of BSNL rose 5.1% to Rs 27,364 crore and out of that the employee cost, which includes salaries, wages, allowances, and other benefits, was at Rs 7,952 crore, an increase of 11% from FY22.
With regard to topline performance, the company surpassed the government’s target and clocked a 14% growth in revenue from operations. In FY23, its revenue from operations was at Rs 19,130 crore, compared to Rs 16,811 crore in FY22, according to the company’s financial statements.
The revenue target of the company for FY23 was Rs 17,161 crore, based on its memorandum of understanding) with the Department of Telecommunications (DoT).
Increase in fiber-to-the-home (FTTH), leased line businesses and other operating income of the company are the factors behind revenue growth.
Mobile services, which contributes 29% to BSNL’s revenue from operations, witnessed a 7% YoY increase at Rs 5,638 crore in FY23. The company’s revenue from the FTTH business grew 30% to Rs 2,071 crore.
The government has set the revenue target of the company at Rs 20,008 crore in FY24. For FY25 and FY26, the company has revenue targets of Rs 24,428 crore and Rs 28,476 crore, respectively.
Talking about the focus of the company, BSNL CMD PK Purwar told a news source, “In about six months, there will be a greater focus on the mobile services segment once we start deploying the 4G networks.”
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